Rothschild Asset Management Inc. Acquires New Position in Baxter International Inc. (BAX)

Rothschild Asset Management Inc. purchased a new position in Baxter International Inc. (NYSE:BAX) during the first quarter, Holdings Channel reports. The fund purchased 8,277 shares of the medical instruments supplier’s stock, valued at approximately $429,000.

Several other institutional investors have also added to or reduced their stakes in the company. Reilly Financial Advisors LLC boosted its position in Baxter International by 20.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,054 shares of the medical instruments supplier’s stock worth $107,000 after buying an additional 348 shares in the last quarter. Quadrant Capital Group LLC raised its position in Baxter International by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 2,344 shares of the medical instruments supplier’s stock valued at $113,000 after buying an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Baxter International by 6.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,533 shares of the medical instruments supplier’s stock valued at $131,000 after buying an additional 145 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Baxter International by 3.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock valued at $144,000 after buying an additional 103 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in Baxter International by 8.7% in the first quarter. Trust Co. of Vermont now owns 3,282 shares of the medical instruments supplier’s stock valued at $170,000 after buying an additional 262 shares during the last quarter. Institutional investors and hedge funds own 83.90% of the company’s stock.

Shares of Baxter International Inc. (NYSE BAX) opened at 60.72 on Monday. The firm has a market cap of $33.01 billion, a price-to-earnings ratio of 17.97 and a beta of 0.66. The stock’s 50 day moving average price is $58.81 and its 200 day moving average price is $52.10. Baxter International Inc. has a 12 month low of $43.13 and a 12 month high of $61.52.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, April 26th. The medical instruments supplier reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.07. Baxter International had a return on equity of 14.03% and a net margin of 18.09%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts predict that Baxter International Inc. will post $2.27 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 2nd were paid a $0.16 dividend. This is a boost from Baxter International’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.05%. Baxter International’s payout ratio is 19.05%.

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Several research firms recently issued reports on BAX. Royal Bank of Canada increased their target price on Baxter International from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $55.00 price target on shares of Baxter International in a research report on Thursday, April 27th. Zacks Investment Research lowered Baxter International from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Cantor Fitzgerald began coverage on Baxter International in a research report on Thursday, June 29th. They issued an “overweight” rating and a $70.00 price target on the stock. Finally, Barclays PLC increased their price target on Baxter International from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Baxter International presently has an average rating of “Buy” and an average target price of $60.33.

In related news, SVP Brik V. Eyre sold 130,732 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $55.69, for a total value of $7,280,465.08. Following the transaction, the senior vice president now owns 49,966 shares in the company, valued at $2,782,606.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carole J. Shapazian sold 2,618 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $57.92, for a total value of $151,634.56. Following the completion of the transaction, the director now owns 9,848 shares in the company, valued at approximately $570,396.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,110 shares of company stock worth $7,642,246. Insiders own 0.05% of the company’s stock.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.

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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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